Swamy exposes hidden property of Chidambaram in Cambridge & kickbacks taken by son Karti

IT findings of corruption and illegal property holding by Chidambaram and his son Karti: Swamy

IT findings of corruption and illegal property holding by Chidambaram and his son Karti: Swamy
IT findings of corruption and illegal property holding by Chidambaram and his son Karti: Swamy

BJP leader Subramanian Swamy again strikes at the hidden assets of former Finance Minister P Chidambaram’s family. After exposing son Karti’s 21 secret foreign bank accounts, this time Swamy brought out the details of Chidambaram’s hidden property in Cambridge in UK found by Income Tax’s Investigation Wing. Revealing the details of a 200-page Income Tax analysis on the seized hard disks of Karti’s companies, Swamy detailed more than 20 instances of blatant corruption and illegal money flow and of properties purchased abroad.

Addressing a press conference in Delhi on Tuesday, Swamy shared his seven-page letter to the Prime Minister with the media, providing the major findings of Income Tax’s Chennai Unit…

“The Income Tax (IT) which seized the hard disks from Karti’s companies found that P Chidambaram, wife Nalini Chidambaram, son Karti and his wife Srinidhi, had in 2008 jointly purchased a property and a big palatial house in Cambridge town in UK.  As per the seized Income Tax documents, the property bought by P. Chidambaram and family is at: 5, Holben Close, Cambridge, U.K. CB237AQ. This huge property and home were purchased from Edmund Suley Holt and Heather Holt, and the money for the purchase was drawn from Karti’s personal account in London’s Metro Bank account number 16714313”. Chidambaram declared only wife Nalini’s share in the Cambridge property. Neither he nor Karti declared their portion in Cambridge land deal.

“Chidambaram never declared this property in any of his mandatory affidavits as a candidate for elections to Lok Sabha or Rajya Sabha or as MP or Minister.  Karti also has not declared this. This is plain corruption under Section 13 (1) (e) of the Prevention of Corruption Act,” said Swamy in a letter to Prime Minister Narendra Modi, urging for immediate CBI-ED probe and seizure of hidden properties and black money parked by Chidambaram and family.

Addressing a press conference in Delhi on Tuesday, Swamy shared his seven-page letter to the Prime Minister with the media, providing the major findings of Income Tax’s Chennai Unit, complaining that Finance Ministry is not allowing officers to act on this report for the past six months.

Income Tax also found several instances of money flow to Karti’s companies from several cases of FIPB approval granted by Chidambaram. Jailed media baron Peter Mukerjea had paid more than Rs. Two crores to Karti’s company Advantage Strategic Consulting Pvt Ltd and other firms abroad.

The documents unearthed by Income Tax show that ASCPL received money from many companies when their FDI investment files were with FIPB and CCEA during Chidambaram’s tenure as Finance Minister.

The joint raid of Income Tax and Enforcement Directorate (ED) was conducted in December 2015 in connection with the Aircel-Maxis scam. The investigators have seized several documents and hard disks from Karti’s offices.

The investigators found that Karti’s company had entered into a deal with a Russian bank called Nazprom and became the bank’s agent for dealing with the Public Sector Undertaking (PSU) Indian Overseas Bank (IOB). The agreements with the Russian bank seized show that Karti’s firm used to get five percent commission for each transaction! After Chidambaram became the Home Minister, Karti’s firm also got money from a South African firm engaged for providing security arrangements for Indian Premier League (IPL) Cricket.

The documents unearthed by Income Tax show that ASCPL received money from many companies when their FDI investment files were with FIPB and CCEA during Chidambaram’s tenure as Finance Minister. The companies which transferred money to Karti’s ASCPL are Claris Life Sciences, Diageo Scotland Limited, which acquired fugitive Vijay Mallya’s UB Spirits, Katra Group, Arcelor Mittal linked Saksoft, Reflections belonging to Spark Capital Advisory Private Limited.

The IT has unearthed that large sums of money were transacted through Karti controlled Advantage Strategic Consulting Private Limited Company’s bank accounts in Singapore to buy properties in UK like the purchase of an 88 acres farmhouse, known as Surridge Farm in Somerset in UK and another property in Cambridge, at Ceres, 29, Meade Hose at Cambridge.

The worst of all this was that Karti used to take money for fixing appointments with father Chidambaram.

The Income Tax – ED joint raids found that after the Aircel-Maxis deal, there was a large money flow into and out of the ASCPL Singapore subsidiary Company. This money was used to buy huge properties, hotels, farmhouses, vineyards, stud farms and race horses and Tennis Courts in 14 countries, alleged Swamy. Investigators’ report say these secret assets are worth more than Ten Thousand Crores ($1.5 billion), said Swamy, blaming the Finance Ministry for not allowing honest officers to act.

“In all of Karti’s numerous sham companies, including ASCPL, curiously there are five common Directors: C B N Reddy, Bhaskar Raman, Mohanan Rajesh, Ravi Viswanathan and V Padma. The Income Tax also found that all these five persons have entered and executed an extraordinarily suspicious Will, stating that they owe all properties and assets to Karti or his daughter Aditi, out of “respect and love”  for P Chidambaram and son! This shows that these five persons are nothing but benamis of son Karti and father Chidambaram,” said Swamy giving the details of curious agreements unearthed by Income Tax from Karti’s computers.

The worst of all this was that Karti used to take money for fixing appointments with father Chidambaram. In a bizarre payoff, the British company Diageo Scotland Limited which acquired fugitive Vijay Mallya’s UB Spirits paid $15,000 as “Service Charges” to Karti’s ASCPL for fixing appointments with then Prime Minister Manmohan Singh, Finance Minister Chidambaram. Diageo’s email copies are available with IT,  “thanking” Karti for fixing appointment of company owner Lord Blyth of Diageo with Prime Minister Manmohan Singh and Finance Minister Chidambaram. These emails also have as an attachment the $15,000 payout receipt as Service Charges for fixing appointments with PM and FM,” said Swamy.

Subramanian Swamy’s detailed seven page letter to Prime Minister Narendra Modi, outlining the findings of Income Tax is published below:

Subramanian Swamy's Letter to PM on Assets of PC and Family and Karti Cos March 7, 2017 by PGurus on Scribd



Note:
1. The conversion rate used in this article is 1 USD = 66.20 Rupees.
2. Text in Blue points to additional data on the topic.

Team PGurus

We are a team of focused individuals with expertise in at least one of the following fields viz. Journalism, Technology, Economics, Politics, Sports & Business. We are factual, accurate and unbiased.

37 COMMENTS

  1. Mr. Swamy, when the Prime Minister himself has got $15000 dress from private sector players what is wrong in Karti a business person which he has never hidden, getting $ 15000 as service fee for some service. How do you shamelessly accuse him for arranging a meeting with FM and PM ? Modi our PM itself gets costly dress and flaunts it shamelessly

    • Sir, Our FM/PM are seriously going after retail crooks especially those who have failed to pay piddly income tax of few thousands not the whole sale crooks who have 200pages of fully traceable documented loot amounting to more than Rs10000crores..This deadly duo of deaf smith and johnny ears are so studious about not looting and not seen to be looting, they don’t want to be seen going after looters who have left documented evidence of brazen looting but at piddly honest men and women who have the gall to talk about corruption and throw out government of looters.One by one mega looters are all leaving for London which has become the home of looters because of extradition laws.Please have kindness and stop talking about $15000 suit.Who knows? Next govt. will get formed in London because that will be the home of all mega indian looters.

  2. It is unfortunate that Media trial peaked.Without any shred of evidence we can cheat the public. Dr Swamy wants FM seats. He and some magazines like yours think you can fool all the people all the time.

  3. If Subramaniam Swamy wants to he the finance minister he should go the PM and cry for that. Karti is a budding entrepreneur. Why is Swamy discouraging an entrepreneur who is trying to emerge?
    Why is he saying that Modi’s own FM is corrupt? Just because he wants FM seat. The most corrupt fellow in politics today

  4. Nothing is going to happen as usual after all these findings. As usual this too will go to trash after monetary settlements are made, as in the case of 2g, coal scam, helicopter scam, etc., etc., As long as people or the judiciary or the investigating agencies are in the hands of the corrupt politicians of this country, nothing is going to change this country.

    • except here and there like jayalalitha ,no politician will ever be jailed in INDIA for corruption ,which ever party rules ,,,,,,

      • With DrSwamy around, don’t bet on it.You have not understood what Drswamy is doing single handedly to create terror among the crooks.As spectators, we have ring side seat.Tell yourself, BJP at best is a hindutva version of congress.Given half a chance, they all will do what congress have done in 70 years.They have itching fingers and devious hearts.There are few good men/women but they don’t have the boldness and brains of DrSwamy to call the bluff within the party.DrSwamy will be the nemesis for some of the political careers not only in congress but in BJP too.Have patience.

    • Some day our whole lot of investigating agencies and judicial system must get totally rewhamped and reorganised The laks of cases in all courts will last for 10 generations of lawyers judges and investigators unfortunately the legislators are all law qualified and will never give up this golden egg laying hen.I fully agree with you

  5. I think DrSwamy has decided enuf is enuf about this cut out fake govt.He has decided to take on the shenanigans.if our 56″ cutout doesn’t act on this and if DrSwamy files PIL in SC, our 56″ cutout will come out a cropper.

  6. Very simply if no action is taken then it implies, sad to infer and say, that the PM is covering up and not Jaitley. If not so, then Jaitley has to sacked forthwith.

    • I think the present PM is not acting directly on the issues of Congress corruption to avoid this abusive, shameless and mean party of labelling the BJP of playing vendetta politics. Nevertheless, he will not spare the rogues.

    • Please understand the reality of being a PM, if he acts by himself, it will be treated as witchhunt – which used to be a norm of UPA govt. Amit Shah was the victim of UPA witch hunt. I am proud that our PM is not like that. He will only respond to individual PILs like Swamy is doing. Swamy himself appreciates PM for his prompt response on his questions, thats how a PM should be. its easy for guilty to brand PM as interfering in the law and order if he acts alone.

      • So none would “bell the cat” citing one reason or other as per their convenience, isn’t it?
        GOI officials hesitate or cite “we need political clearance etc”, Modi Govt including Modi himself may think like what you say leaving it to “Law would take its own course etc,we would not interfere in any GOI machinery/officials working etc”. Then again it would be a PIL like Dr SS does with often interference from GOI indirectly like delays,adjournments etc taking either a painstakingly long 20+yrs or like in Bofors case,Mallya escapade etc none knowing eventually how it happened/failed i.e fall into a dead trap/hole.

      • So what you say is that only Swamy and his PIL’s can work and one needs to know the PM too . A normal citizen cannot expect his Govt to act on their own ???? You Sir, still have “Hopium” as regards Modi and of course you have every right to your opinion. As for me my opinion is that there has only been a name change and nothing offering any justice to an Indian. The NDA or the UPA !. The last common A is actually giving Indians, pardon the pun, a Fundament-al pain .No relief on the horizon

        • Btw when did Modi say he is different or he would act on his own or make his Govt act on their own on these high amt/profile corruption cases?
          He right from beginning of campaign in 2013 had been very cautious that only his period wud be corruption free but for all pre-2014 cases he would never reopen,leave it to courts.
          So he has been very clear in his mind and people are to be blamed for high hopes..

          • LOL. Modi’s fans getting weirder by the day and not wiser.
            So could you please ask him to say this NOW publicly.After all you say he is a truthfull man. Should have no problem in doing so.

  7. These rogues shud,b dragged to streets.chidambaram and family are nororious,chors. Look at his face and cunning eyes hidden behind specks. What is court doing inspitecofxall these proof. Some drastic change has,to come to India,to create terror in the minds of such corrupt idiots

  8. More than the inaction/silence of Modi Govt is the silence of Opposition mainly Congress seniors esp former Ministers who may be in such favourable circumstances like Dr Swamy to know on similar hidden assets or misadventures of any of the BJP members which is widely believed by most public.
    Anyway i have no hope that present Modi Govt would soon act on these evidences for it is only the courts/enforcement agencies duty/job as told by PM himself several times and at the max some make-believe steps would be taken by BJP to boost public sentiments with an eye on 2019 poll.s

    • Prosecution for tax violations and evasion is the duty of the revenue commissioner who is the only authority other than the judiciary, holding the right to issue an arrest warrant against any individual. This office comes straight under the Ministry of Finance, Government of India. Having such an abject violation of tax liabilities, causing revenue losses to the government, right on display, and yet abstaining from initiating any prosecution is a deliberate signal of lack of interest from the current administration. Modi has not kept his promise that, the law will take its course on the defaulters.

      • GOI officials/enforcement agencies say “we need political clearance” and Modi Govt Ministers including Modi himself may say “we would not interfere in Govt.machinery i.e working of officials,Law/courts etc” .
        So it would boil down to “Who will bell to the cat?”. So as usual someone like Dr SS would file a PIL and wait for 20+yrs for courts to pronounce a final verdict with lots of delays,adjournments etc again due to deliberate or otherwise of GOI lawyers etc.

  9. All the efforts to bring probity in governance will be undermined if the Government fails to act against this family of clever fraudsters. Let us hope our PM will respond.

  10. Such a shame that in spite of all the hard yards put in by our IT officials – the case has made no headway. It is blatantly clear that the decision makers at MoF have turned a blind eye. This expose’ from Dr. Swamy has all the ruminations of a greater power play. While it clearly shreds the credibility of his beta noire’ in public domain – any further inaction by Modi and Amit Shah will seriously cast aspersions on the intent of the mighty two (or say mighty three).

    AAP came into existence due to the need of mango people to create change AND failed. Is there room for a more moderate right wing entity with serious capability, talent and intent in making Hindustan great again (borrowed tagline off course). How long before the simmering discontent and inaction on black money and corruption morphs into something more tangible???. When will Dr. Swamy lose his patience and create bloodbath (in his own words). Time to act is NOW for Shah and Modi – before they go down in public’s eye.

  11. PC is a well known denizen of that corrupt street bred during d UPA/Congress regime. He being FM, made d best of it. That’s y, all these corrupt congis misuse Sonia d corrupt as their shield and cry at top of head 2 save her corrupt family practices. Time now that Dr. Swamy take their deals to conclusion.

    • Any IAS officer begins to take action he is transferred to an inconvenient place and has problems of children’s admission etc once over and his career is finished. Look at the case of Dr Abraham in SEBI. They foisted false cases and sent him out,He has been cleared after a few years but the damage is done. Thanks to the head of this country!

  12. What else is required to act? Will IT officials take it easy if a middle class salary earning individual fails to pay taxes on his SB interest income and files returns with only TDS on salary? Change is not possible unless few high profile convictions happen and faith of citizens is restored in the rule of law

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